Exelixis, Inc. to Post Q2 2024 Earnings of $0.32 Per Share, Leerink Partnrs Forecasts (NASDAQ:EXEL)

Exelixis, Inc. (NASDAQ:EXEL) – Stock analysts at Leerink Partnrs raised their Q2 2024 earnings per share estimates for Exelixis in a research note issued on Wednesday, July 24th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will post earnings per share of $0.32 for the quarter, up from their previous estimate of $0.30. The consensus estimate for Exelixis’ current full-year earnings is $1.14 per share. Leerink Partnrs also issued estimates for Exelixis’ Q3 2024 earnings at $0.36 EPS.

Exelixis (NASDAQ:EXEL) last released its earnings results on Tuesday, April 30th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.16). The business had revenue of $425.23 million during the quarter, compared to analyst estimates of $461.04 million. Exelixis had a net margin of 11.10% and a return on equity of 8.85%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS.

EXEL has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Exelixis in a research note on Friday, May 3rd. William Blair reiterated an “outperform” rating on shares of Exelixis in a research note on Wednesday, May 1st. StockNews.com raised Exelixis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $27.00 price target on shares of Exelixis in a report on Wednesday, April 10th. Finally, Barclays downgraded Exelixis from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective for the company. in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.13.

Exelixis Trading Up 1.9 %

EXEL opened at $23.39 on Thursday. Exelixis has a 1-year low of $18.64 and a 1-year high of $24.34. The business has a 50 day moving average of $21.93 and a 200-day moving average of $22.18. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 0.55 and a beta of 0.54.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EXEL. Mutual Advisors LLC acquired a new stake in shares of Exelixis in the fourth quarter valued at approximately $911,000. Raymond James & Associates raised its position in shares of Exelixis by 3.8% during the fourth quarter. Raymond James & Associates now owns 113,631 shares of the biotechnology company’s stock worth $2,726,000 after acquiring an additional 4,185 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Exelixis by 60.7% during the fourth quarter. Pacer Advisors Inc. now owns 61,973 shares of the biotechnology company’s stock worth $1,487,000 after acquiring an additional 23,418 shares during the last quarter. Values First Advisors Inc. lifted its stake in shares of Exelixis by 7.6% during the fourth quarter. Values First Advisors Inc. now owns 17,032 shares of the biotechnology company’s stock valued at $409,000 after acquiring an additional 1,207 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Exelixis by 236.3% in the fourth quarter. State of Alaska Department of Revenue now owns 127,287 shares of the biotechnology company’s stock valued at $3,053,000 after acquiring an additional 89,436 shares during the last quarter. 85.27% of the stock is owned by institutional investors.

Insider Buying and Selling at Exelixis

In other news, Director George Poste sold 11,686 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $20.96, for a total value of $244,938.56. Following the sale, the director now owns 213,907 shares of the company’s stock, valued at approximately $4,483,490.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jack L. Wyszomierski sold 10,923 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $21.37, for a total transaction of $233,424.51. Following the completion of the sale, the director now directly owns 338,948 shares of the company’s stock, valued at approximately $7,243,318.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Poste sold 11,686 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $20.96, for a total value of $244,938.56. Following the completion of the transaction, the director now directly owns 213,907 shares in the company, valued at approximately $4,483,490.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,896 shares of company stock valued at $660,677. 2.85% of the stock is currently owned by company insiders.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.